At the end of this month, Paolo Ferrari will hand over his current roles within Bridgestone Corporation prior to his departure from the company at year’s end. The company has named Scott Damon his successor in several key positions.
Bridgestone Corporation has presented its Mid Term Business Plan (2024-2026), and for Europe this entails significant restructuring and rebuilding within the truck and bus tyre as well as the retreading business. Chief executive officer Shuichi Ishibashi and Masato Banno, the company’s chief technology officer, discussed 24MBP on 1 March.
The Board of Directors of Bridgestone Corporation today approved a resolution to implement a new global management structure. This structure will take effect on 1 January 2024 and divide Bridgestone’s business into two regions, Bridgestone East and Bridgestone West. Each region will have its own Chief Executive Officer who will report to Global Chief Executive Officer, Shu Ishibashi.
Formula One is sticking with Pirelli as tyre supplier for the 2025 to 2027 seasons, but Bridgestone comments that both the Federation Internationale de l’Automobile (FIA) and Formula One Group (FOG) responded favourably to its proposed “advanced innovative technology and sustainability initiatives.” Furthermore, the Japanese manufacturer doesn’t rule out throwing its hat into the F1 ring at a later date.
In order to “further deepen dialogue” with its stakeholders and to give them a “comprehensive understanding” of its approaches and initiatives for enhancing corporate value over the medium to long term, Bridgestone Corporation has published the Bridgestone 3.0 Journey 2023 Integrated Report. This document covers activities occurring between 1 January and 31 December 2022 and includes a range of facts and figures.
Vehicle manufacturers have built various models upon common platforms for years now, so why not do the same with tyres? Bridgestone sees the value in sharing modular components across tyre lines and is making something called BCMA a foundation of its New Premium strategy. It will market tyres resulting from this strategy under a global brand name and promote this brand via reactivated motorsport activities.
Today, Bridgestone Corporation launched its Bridgestone E8 Commitment towards 2030. This commitment consists of eight values that start with the letter E – energy, ecology, efficiency, extension, economy, emotion, ease and empowerment. The company says it will commit to these values in order to “realise a sustainable society.”
Bridgestone Corporation has commenced a joint programme with four other parties to develop chemical recycling technologies that can deliver high yields of isoprene from end-of-life tyres (ELTs). Earlier today it also announced the launch of a joint research and development project with one of these entities, Eneos Corporation, to extract raw materials from ELTs using pyrolysis with the aim of further using these materials to make new tyres.
Bridgestone Corporation reports that its Bridgestone Americas, Inc. subsidiary has completed the sale of Firestone Building Products to Holcim Participations (US) Inc, a subsidiary of LafargeHolcim Ltd. (LafargeHolcim). According to the Japanese company, the US$3.4 billion transaction will “advance Bridgestone’s efforts to deliver value to customers and society as a global leader providing tyres and advanced mobility solutions.”
Bridgestone Corporation has become a member of The Valuable 500, a global movement committed to making disability inclusion a greater part of the business leadership agenda. Through this partnership, Bridgestone says it and other top companies around the world are “committing to help build and promote a society that realises the value of the 1.3 billion people living with disabilities.”
Bridgestone Corporation has released a new commemorative logo and webpage to mark the 90th anniversary of its founding. The company notes that as well as highlighting the anniversary milestone, the logo looks to the future that lies beyond. “It also expresses a commitment to pursuing innovation and swift progress while treasuring its connections with stakeholders.”
Shuichi Ishibashi has been named Masaaki Tsuya’s successor as global chief executive officer of Bridgestone Corporation. His selection as CEO is subject to approval by the company’s Board of Directors. The Board will decide upon the appointment following Bridgestone’s annual shareholders’ meeting in March 2020.
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Stephen Goodchild / Tyre Industry Publications Ltd